Applying for Credit during a Consumer Proposal
A Consumer Proposal is a legally binding choice to forgive the debt, in which you give back a portion of what you owe to your creditors without paying any interest. Only Licensed Insolvency Trustees (LITs) can administer Consumer Proposals, and they conduct any...
Does Consumer Proposal remain on Credit Report all the time
The consumer proposal might be an ideal way to overcome your debt, but it can damage your credit ratings. Your credit score is closely connected to your credit report since the report contains all your missed or late payments. However, it is deleted from your credit...
How to Avoid Bad Debt?
All debts are the same. But, as the debts can have positive or negative consequences, they are commonly classified as good debt or bad debt. Choosing whether a debt is good or bad depends on an individual’s financial situation, including how much they can afford...
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